Argentina increased soybean and sunflower processing in January

In January 2024, about 2.1 million tons of soybeans were processed at Argentine oil extraction facilities, the industrial chamber of grain and oilseed exporters CIARA-CEC calculated. They estimated the figure was up 10.5% on December and January 2023 levels.

“During this period, the utilization of processing capacity in the country amounted to 36% of the existing potential against 32% in the previous year,” the report said.

In addition, experts note that in January the volume of sunflower seed processing in Argentina rose to the maximum value in the last five months – 218 thousand tons.

According to the forecasts of the US Department of Agriculture (USDA), in the season-2023/24 in Argentina will be harvested 4.1 million tons of sunflower (5.019 million tons in 2022/23 MY) and 50 million tons of soybeans (25 million tons), and processed 3.85 million tons of seed (4 million tons) and 35.5 million tons of beans (30.318 million tons).

Tags: soybean, sunseed, Argentina